Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
GBP/USD: pound fixed above SSB
Technical levels: support – 1.2360; resistance – 1.2400, 1.2420, 1.2470.
1. Buy — 1.2360; SL — 1.2340; TP1 — 1.2420; TP2 — 1.2470.
Reason: narrowing bearish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; the prices are fixed above the Cloud, but the market still is overbought.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of EUR/GBP, bears couldn't break the support at 0.87 ( the bottom line of the longterm consolidation within the "Spike and ledge" pattern)
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...